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Oracle CEO Larry Ellison promised a number of "startling" announcements about his company's cloud computing business. The first announcement came Monday, with Oracle saying it would team up with former rival Microsoft.

How much is Oracle’s new cloud computing partnership with Microsoft really worth? Oracle investors on Monday voted with their dollars, pushing the stock up less than half a percent in aftermarket trading.

The modest gain marked a reversal from Friday's 11.6 percent drop, after the company filed its second disappointing earnings report in a row. On the earnings call, CEO Larry Ellison promised investors that he would make a number of “startling” announcements in the coming weeks about his company’s cloud computing business.

The first announcement came Monday, with the company saying it would begin supporting Oracle software on Microsoft's enterprise servers in the cloud.

“Microsoft is deeply committed to giving businesses what they need, and clearly that is the ability to run enterprise workloads in private clouds, public clouds and, increasingly, across both,” Microsoft CEO Steve Ballmer said in a statement. “Now our customers will be able to take advantage of the flexibility our unique hybrid cloud solutions offer for their Oracle applications, middleware and databases, just like they have been able to do on Windows Server for years.”

Oracle and Microsoft have clashed multiple times in the past, fighting over enterprise customers with their competing lines of database and server management software.

Analysts told the Seattle Times the deal would likely benefit both companies. Oracle opens up a new market for its cloud software sales team, while Microsoft’s virtual server becomes more attractive to companies trying to decide whether to adopt VMWare’s virtual servers or Microsoft’s.

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